The So-Called Pedley-Ryan Dollars were issued in 1933 to allow investors to purchase pure silver on a very small scale. Previously, silver buyers had to purchase large quantities, typically in the form of bars. The Pedley-Ryan Dollars were the size of a silver dollar and were initially sold at a price of three for a dollar. Various types of Pedley-Ryan Dollars were issued. The example here is the Type IV dollar listed as HK-825 in the Hibler-Kappen reference on So-Called Dollars and less than 500 were believed to have been issued. This example of the 1933 Pedley-Ryan Silver Dollar HK-825 (incorrectly labeled as HK-826 on the label) has been graded MS62 by NGC and is encapsulated in a newer-style edge-view holder. The piece is bright white on both sides and has decent original luster. Light hairlines some small marks can be found on both sides but none are major. Some doubling of the hand-punched letters can be seen on both sides of the piece. A really neat example of this popular so-called dollar.